UPDATE: Berenberg Downgrades Syngenta (SYT) to Hold

July 16, 2014 7:47 AM EDT Send to a Friend
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Price: $68.35 -2.4%

Rating Summary:
    7 Buy, 8 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 10
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(Updated - July 16, 2014 9:24 AM EDT)

Berenberg downgraded Syngenta (NYSE: SYT) from Buy to Hold.

Analyst John Philipp Klein said, "Syngenta’s share price has lost 12% over the past 12 months, driven by significant earnings downgrades of more than 20% for 2014 and 2015 EPS. We believe that Syngenta’s earnings outlook is challenged by further market-share loss in North American corn seeds, a cost base exposed to appreciating currencies, and a comparatively weak product pipeline. With a 2012-16E EPS CAGR of now only 4% and a delayed margin expansion, we think that Syngenta is fairly valued at 15.4x 2015 earnings – a multiple based on crop protection rather than seeds."

For an analyst ratings summary and ratings history on Syngenta click here. For more ratings news on Syngenta click here.

Shares of Syngenta closed at $72.57 yesterday.

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